Project Controls Institute: Benefits of Earned Value Management

Topic: Benefits of Earned Value Management

Benefits of Earned Value Management #23

DaveH offline New Member Joined On: 09-06-2017 Posts: 2	Hi, I am new to Project Controls. Can someone tell me how my project can benefit from earned value management? Thanks Dave
	Login to Join Discussion

Benefits of Earned Value Management #24

David.B
offline
New Member
Joined On: 09-06-2017
Posts: 5

Hi Dave The benefits of implementing Earned Value Management (EVM) at project level are as summarized below: [ol] [li]The Earned Value Management integrates scope, time, cost and risk[/li] [li]The EVM provides continuous feedback on project progress and productivity[/li] [li]It acts as a early identification of performance trends and root causes[/li] [li]The EVM use Performance Measurement Baseline (PMB) for project progress measurement. (PMB is time phased budget of project activities)[/li] [li]It improves transparency and reduces the risk of disputes[/li] [li]It improves forecasting of resources and costs[/li] [li]The reporting can be done at different levels based on management requirement[/li] [li]It produces a historical record of project performance[/li] [li]Past project performance data can be used to improve future estimating[/li] [li]The EVM Provides objective answers to the following:[/li] What work has been done each period of the project up to now? What work has been done cumulatively up to now? What were the exceptions to expected performance and what did we do about them? What is our current forecast for the remaining project work? What are the time-phased resource requirements to complete the project? Regards David

Login to Join Discussion

Benefits of Earned Value Management #25

James T offline New Member Joined On: 09-06-2017 Posts: 9	Hi, I think David has covered everything i can imagine except "EVM Reduces Legal Compliance Risk" Thanks James
	Login to Join Discussion